Illumina Pays Pacific Biosciences $98M To Terminate $1.2Bn Merger Deal
Executive Summary
Illumina had planned to acquire Pacific Biosciences to add the company's “long-read” gene sequencing systems to Illumina's own range of "short-read" technologies. However, the UK’s Competition and Markets Authority and the US Federal Trade Commission concluded that the deal would significantly reduce competition in the DNA sequencing market.
You may also be interested in...
Illumina Remains Committed To Grail Merger Despite Regulators' Doubts
Illumina insists its proposed $8bn acquisition of Grail, the developer of the Galleri multi-cancer test, would be “pro-competitive.” But antitrust regulators in the US government and European Commission suspect the deal would reduce competition and innovation in the future genomic diagnostics market.
US Government Opposes Proposed Illumina/Grail Merger
Illumina announced plans to acquire Grail for about $8bn in September 2020, but the US FTC says the proposed acquisition will diminish innovation in the US market for multi-cancer testing.
Roche And Illumina Sign 15-Year Partnership To Advance NGS Testing
Roche and Illumina have entered a 15-year, non-exclusive partnership to expand access to next-generation sequencing- based testing in cancer care.